How do I save taxes above 50,00,000 income?
• Not hiding income
• Not spending too much time
• Not trading in multiple accounts simultaneously
It's the same process that the top traders & fund managers use to save taxes. It works.
THREAD: 🧵
Collaborated with @niki_poojary
The Ultimate Guide for Traders who want to understand how they can use:
1) Unsecured Loans
2) Claim Expenses
3) Pvt Company
To drastically lower their taxes.
Have spoken to a lot of CA's and have got this information from them.
Follow these steps to pay lower taxes: ↓
Step 1:
The first thing traders do is loan their money to their family members to trade in their accounts so that they can make a profit in the family members' name.
This way the tax is divided by different names.
So you don't have to pay taxes on one name only.
How do they do this?
They use "Unsecured Loans".
It is completely legal to give a loan to your family.
Once they get the loan in their account, they can use that money to start trading.
30% tax is charged above 15 lakhs income.
Until 15 lakhs, you can trade in their names.
Assuming a family of 4 (most common) until 60 lakh profit you can do this.
This would be much better than making 60 lakh income on one name only.
Not only are you charged a lower tax rate by doing this, but you also make use of the no-tax slabs.
